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2008

CONSTANTINE’S FIRST 2008 DRILL HOLE AT PALMER INTERSECTS THREE MASSIVE SULPHIDE ZONES


July 10, 2008

Includes 29.3 ft (8.9m)- 4.32% Cu, 5.46% Zn, 0.93 g/t Au, 40.7g/t Ag

Vancouver, B.C. – Constantine Metal Resources Ltd (TSXV: CEM) (the “Company”) is pleased to announce partial analytical results for first 2008 drill hole (CMR08-11) at the Glacier Creek prospect, South Wall (“SW”) Zone target, on its polymetallic massive sulphide Palmer project near Haines, Alaska.  The results highlighted below are from the upper zone (Zone I) of CMR08-11 which has intersected three massive sulphide/mineralized zones intersected in the hole with an accumulated core length of 235 feet (71.6 meters) over a total core length of 682 feet (208 meters).

ZONE I - CMR08-11 (South Wall Target- Glacier Creek prospect)

Hole CMR08-11 intersected Zone I massive sulphide from 516 to 635 feet ( 119 feet or 36.3 meters) with 1.54% copper, 5.45% zinc, 0.45 % lead, 0.47 g/t gold, 28.5 g/t silver.  The intersection includes 86.9 feet (26.5 meters) grading 1.8% copper, 6.61% zinc, 0.62% lead, 0.63 g/t gold and 37.0g/t silver that contains a 29.3 foot (8.93 meter) high copper zone that averages 4.32 % copper, 5.46% zinc, 0.93 gt gold and 40.7 g/t silver.  The intersection is approximately 100 feet (30m) down dip from the correlative Zone I intersection previously reported (see news release dated October 16, 2007) in discovery hole CMR07-09. On this basis Zone I has an estimated true width of seventy percent of the intersection core length. The intersection confirms that the new discovery lies on the steeply overturned south limb of an anticline that hosts the copper-rich RW Zone discovery in CMR07-07 (see news release dated Sept 25, 2007) located 1400 feet (430 meters) away on its north, upright limb. The 2008 Glacier Creek prospect drill plan and a South Wall drill section will be posted on the Company’s website at www.constantinemetals.com.

ZONE II -  CMR08-11 (South Wall Target- Glacier Creek prospect)

CMR08-11 intersected a second zone of mineralization from 915-985.6 feet (70.6 feet or 21.5 meters). This intercept correlates with Zone II in CMR07-09 (see news release dated October 16, 2007) and is located 180 feet (55 meters) down dip from the CMR07-09 Zone II intersection. The intersection is barite rich massive sulphide with chalcopyrite, sphalerite, galena, and possible sulphosalt minerals and includes some cherty silica hosted mineralization and post mineral dykes.  The estimated true width is 47% of the core length based on correlation with Zone II in CMR07-09. Samples from this intersection are in the lab for analysis and will be reported subsequently.

ZONE III – CMR08-11 (South Wall Target- Glacier Creek prospect)

The deepest zone in CMR08-11 is from 1150.2 – 1197.3 feet (47.1 feet or 14.4 meters) and was not intersected up dip in drill hole CMR07-09. The zone contains barite rich massive sulphide and sulphide rich chert and includes some weakly mineralized chert and post mineral dykes. The estimated true width based on a vertical dip is 45% of the core length. Samples from this zone are being cut and will be delivered to the laboratory shortly.

Comments on drill hole CMR08-11

The drill hole has been completed at a final depth of 1492 feet (455 meters). It  provides confirmation of the steep South Wall interpretation first indicated by the CMR07-09 intercepts and reconfirms the stacked nature of the sulphide mineralization. The significant increase in thickness and copper grade suggests that the center of the system may still be at depth. The substantial increase in alteration and mineralization between the sulphide zones over a 682 foot (208 meter) core length relative to CMR07-09  is also considered to be very favorable indication of the increasingly robust nature of the system at depth.  A second hole (CMR08-13) from the same drill site is in progress and will test down dip from CMR08-11. A section showing the current interpretation of the South Wall mineralization will be posted on the Company’s website along with a general location plan of the drilling.

Table of Constantine Glacier Creek Drill Results

2006-07 Results

Drill hole

from (ft)

to    (ft)

Interval
(ft)          (m)

Cu  (%)

Pb  (%)

Zn (%)

Au (g/t)

Ag (g/t)

Comment

*CMR06-01

338.2

355.0

16.8

5.1

0.23

0.13

10.86

0.134

44.4

RW Zone

*CMR06-02

338.4

341.0

2.6

0.8

0.04

-

19.50

0.022

4.7

RW Zone

*CMR06-07

497.2

543.1

45.9

14.0

3.79

0.21

7.24

0.374

47.0

RW Zone

*includes

497.2

511.5

14.3

4.4

0.65

0.35

13.60

0.153

17.8

zinc zone

*includes

511.5

543.1

31.6

9.6

5.22

0.15

4.36

0.474

60.3

copper zone

*CMR07-08

506.0

604.0

98.0

29.9

0.14

0.54

0.47

0.419

44.5

RW-oxide

*includes

506.0

518.0

12.0

3.7

0.19

2.15

1.80

1.143

137.3

Au-Ag oxide

*CMR07-09

502.1

581.6

79.5

24.2

1.19

0.45

6.46

0.673

49.8

SW – Zone I

*includes

502.1

561.0

58.9

18.0

1.03

0.62

7.76

0.939

67.5

SW – Zone I

*includes

787.0

798.2

11.2

3.4

0.16

0.03

11.17

0.08

18.30

Zone II (SW)

* previously reported intersections

 

 

 

 

 

 

 

 

2008 Results

 

 

 

 

 

 

 

 

 

CMR08-11

516.0

635.0

119.0

36.3

1.54

0.45

5.45

0.47

28.5

SW - Zone I

includes

529.0

615.1

86.9

26.50

1.81

0.62

6.61

0.63

37.0

SW - Zone I

includes

573.8

603.1

29.3

8.90

4.32

0.04

5.22

0.84

36.8

SW - Zone I

CMR08-11**

915.0

985.6

70.6

21.5

 

 

 

 

 

SW – Zone II

CMR08-11**

1150.2

1197.3

47.1

14.4

 

 

 

 

 

SW – Zone III

** results pending

The Company’s second drill is located on the CMR07-07, RW Zone discovery site (see news release dated September 25, 2007), 1400 feet (430 meters) west of the South Wall target discussed above. The first 2008 hole (CMR08-12) at this drill site is at a depth of 200 feet (61 meters) and due to drill problems has been temporarily suspended until a new drill arrives on site.

About Constantine

The Company owns the Palmer project, a world class base metal exploration opportunity in a very accessible part of southeast Alaska, where it has made a new high-grade gold-silver rich massive sulphide discovery and is currently carrying out an aggressive  two drill multi-hole program.  Constantine also owns 100% of the Munro-Croesus Gold property, including the former high-grade Croesus Gold mine, consisting of 22 patented mining claims and leases (416 hectares), located 75 kilometers east of Timmins, Ontario and within the influence of the prolific Porcupine-Destor Deformation Zone.

Please visit the Company’s website (www.constantinemetals.com) for more detailed company and project information.

"J. Garfield MacVeigh"
J. Garfield MacVeigh, President

Notes:

Drill core was split using a diamond blade rock saw through 48 sample intervals with half of each sealed in individual 6 ml polyethelene bags for analysis and half placed back in the original core box for permanent storage. The sealed samples were delivered by Company personnel directly to the Eco Tech preparation lab in Whitehorse and pulped samples were shipped by Eco Tech Laboratory Ltd. to their analytical facilities in Kamloops, British Columbia.. Twenty nine elements including silver, copper, lead and zinc were determined by inductively-coupled plasma(ICP/ES) atomic emission spectroscopy, following four-acid digestion. Ore metals reporting concentrations higher than 10,000 ppm were assayed to produce the results reported herein. Gold was determined by fire-assay fusion of a 30 g sub-sample with atomic absorption spectroscopy (AAS).

Work programs are supervised by Dr.Hardolph Wasteneys,, P Geo., and project Qualified Person under the definition of Canadian National Instrument 43-10.1. He has reviewed the information contained in this news release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 

Forward looking statements:

The news release includes certain “forward-looking statements.” All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, exploration results, interpretation of results and future plans and objectives of Constantine are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Constantine’s expectations include exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.  This news release provides partial assay results for one zone in the first hole of the 2008 Palmer drill program.  There is no assurance that assay results for the 2 remaining zones to be reported from this hole will provide similar results.

South Wall Drill Section CMR07-09 - Palmer Project


Click image to enlarge

2008 Glacier Creek Drill Plan


Click image to enlarge

Palmer VMS Project Croesus Gold Project Yukon Gold Project Golden Mile Project

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